Weighing Possibility of Europe Rejecting Arena Pharma's Obesity Pill

The consensus view of Europe approving Belviq could be overly optimistic.

Regarding Belviq's path through the EMA approval process, Arena CEO Jack Lief said the following at the J.P. Morgan Healthcare Conference:

We've responded to the 120-day questions, which were very similar to what the FDA asked us, questions that we responded at FDA. We're waiting for the 180-day assessment, which we expect this quarter. And as I said, we expect a final decision in the first half of this year.

Those aren't the words of a CEO expecting good news from Europe in February. In fact, Arena may find itself appealing a European rejection of Belviq, just like Vivus is doing with Qsymia.

Adam Feuerstein writes regularly for TheStreet. In keeping with company editorial policy, he doesn't own or short individual stocks, although he owns stock in TheStreet. He also doesn't invest in hedge funds or other private investment partnerships. Feuerstein appreciates your feedback; click here to send him an email.